Spotlight

Indian equity markets are expected to trade on a steady note, supported by improving global sentiment as the United States and Iran continue technical-level talks despite the recent exchange of military strikes, easing concerns over a broader escalation in the Middle East.
 
Global risk sentiment also improved after a strong overnight rally in U.S. semiconductor stocks lifted optimism across the technology sector, providing positive cues for Asian equities. Meanwhile, crude oil prices have stabilized in the $71–72 per barrel range after retreating from recent highs near $76, providing additional support to overall market sentiment.

Technical view

Nifty 50

Nifty 50 continues to exhibit a cautious near-term technical structure after failing to sustain above its immediate resistance zone. From a technical perspective, the 24,100–24,200 region is expected to act as the immediate resistance. A sustained breakout above this band would improve market sentiment and could support a recovery towards the 24,400 region.
 
On the downside, the 23,900 level remains the immediate support, followed by the 23,800 mark. A decisive break below 23,800 could accelerate selling pressure and drag the index towards the 23,600 region. Overall, the near-term technical outlook remains cautious, with the index needing to reclaim and sustain above the 24,100–24,200 resistance zone to confirm a stronger recovery and improve the prevailing market sentiment.

Bank Nifty

Bank Nifty continues to exhibit a cautious technical structure, although it demonstrated relative resilience compared with the broader market in the previous session. From a technical perspective, the 57,400–57,500 region remains the immediate resistance zone. A sustained breakout above this band would strengthen bullish momentum and could pave the way for an advance towards the 57,800 level, followed by the 58,000 psychological mark.
 
On the downside, the 56,800–56,700 region is expected to provide immediate support. A decisive break below this zone could trigger fresh selling pressure and expose the index to the 56,400–56,300 support region. Overall, the near-term technical outlook remains cautious, with Bank Nifty expected to maintain its recovery bias as long as it sustains above the immediate support zone. However, a decisive breakout and sustained close above the 58,000 level will be required to reinforce bullish momentum and confirm the next leg of the recovery.